Venezuela denounces US sanctions at the WTO

GENEVA- Venezuela has on Tuesday filed a "complaint" against the United States to the World Trade Organization (WTO) to denounce US sanctions and other "coercive measures of trade restrictions" against Caracas. "Venezuela files WTO complaint on US measures on goods and services," the WTO said on its website.

As stipulated by the operating rules of the WTO Dispute Settlement Body, Caracas specifically requested on Tuesday the opening of consultations with the United States on measures affecting goods and services of the WTO. Venezuelan origin.

The request for consultations is the formal starting point of the dispute settlement procedure in the WTO. The consultations provide an opportunity for the parties to consider the issue and, where possible, find a satisfactory solution. After 60 days, if the consultations failed to resolve the dispute, Venezuela may request that the matter be brought before the adjudicative process of a panel within the WTO.

In a document circulated by Venezuela to the WTO on Tuesday, Caracas defended his case with the dispute settlement body arguing that "the United States has imposed certain coercive trade restrictive measures against Venezuela , in the context of attempts at economic isolation of this country. "

According to the WTO, Venezuela has alleged that "certain United States laws and regulations relating to goods of Venezuelan origin, to the liquidity of the Venezuelan public debt, to transactions in Venezuelan digital currency, and to the Schedule nationals and other specially designated persons are incompatible with the international rules of the International Organization based in Geneva.

Relations between the United States and Venezuela are currently very tense, while Hugo Chavez's successor, Nicolas Maduro, is facing a serious political and economic crisis. Venezuela has the largest oil reserves in the world, but is suffocated by a deep economic crisis and is under financial sanctions from the United States that have been strengthened since 2015.

Washington on Tuesday imposed new financial sanctions for bribery against several individuals and companies in Venezuela, a statement from the US Treasury said. In early November, the White House also imposed new "hard" sanctions, particularly in the gold sector, against Venezuela, accused of being part of, with Cuba and Nicaragua, a "troika of tyranny" in Latin America.

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Journalist-Editor of the ALG24 website since December 2016. In the press since March 2014. Specialized in security and political information. E-mail: lettifimohamedsaber@gmail.com Phone number: 066 29 881 61